Commodities update 68

Commodities update 68

24 January 2017
Rising US-Oil-Production


At the beginning of the new week, the oil price was under pressure. The rising amount of drill holes in the USA (+29 during the last week / 551 overall) due to oil prices between 50 and 60 US-Dollar per Barrel, was the highest gain per week since four years. According to Commerzbank analysts, the OPEC estimates, that a higher US-production will be equalized by a higher demand.  


Despite the instruments of economic policy of the new US-president Donald Trump, there are two main parameters for the future of the gold price. First, the US-economy is increasing at the moment and the inflation rate does the same thing. So the Federal Reserve will maybe think about rising the key interest rate too. Secondly, an attractive US-Dollar seems to be disadvantageous for the gold price.

Metal prices benefit from a dropping Dollar exchange rate

A ton of Copper costed more than 5,800 US-Dollar at the beginning of the week. Aluminium prices rose to 1,860 US-Dollar per ton and the zinc price quoted up to 2,800 US-Dollar per ton. According to Commerzbank commodity analysts, Donald Trump’s infrastructure plans – especially building streets, highways, airports, tunnels and railways – would lead to a higher demand on industry metals.
02/10/2022 17:57:46